Deutsche Bank's Succession Plans Are In Shambles -- Look At Who They're Considering

Josef Ackerman intends to step down as Deutsche Bank's CEO no later than 2013, and a major wrench just got thrown into successful plans.

The odds-on favorite of many was Bundesbank President Axel Weber, but then he shocked everyone and took over the reins at UBS this April.

Many now believe that the clear-cut choice would be the head of the corporate and investment banks, Anshu Jain, but there is also widespread belief that the fact Jain is not German (he is from India) will cause Deutsche Bank officials to chose a native successor or make Jain co-CEO with another.

We've compiled a list of the front-runners, provided background, listed the pros and cons, and provided some odds.

Pros: Loyal employee that has proven himself consistently as he has risen through the internal ranks. As youngest member of Management Board, his appointment would signal a commitment to the bank's ongoing evolution.

Cons: He's the youngest member of the board and might lack the seasoning. Could be turned to in the future.

Pros: Fitschen is an institution within Deutsche Bank and has the kind of far-reaching relationships both within and without the bank that will be necessary for a new chairman. He is also heading the search committee for the new chairman.

Cons: At 62, he is close to retirement and considered too old by many inside the bank. He is also rumored to be not terribly popular amongst younger executives at Deutsche Bank.

Fun fact: Fitschen met his wife while on assignment for Deutsche Bank in Asia during the 1980's.